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Centene (NYSE:CNC) Given New $93.00 Price Target at Barclays

Centene logo with Medical background

Centene (NYSE:CNC - Free Report) had its price target raised by Barclays from $91.00 to $93.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CNC has been the topic of several other research reports. Sanford C. Bernstein decreased their target price on Centene from $96.00 to $88.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group lowered shares of Centene from a "hold" rating to an "underperform" rating and dropped their target price for the stock from $68.00 to $52.00 in a report on Tuesday. Wells Fargo & Company decreased their price target on shares of Centene from $91.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. UBS Group raised shares of Centene from a "neutral" rating to a "buy" rating and upped their price objective for the company from $79.00 to $80.00 in a research note on Friday. Finally, Oppenheimer decreased their target price on shares of Centene from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Centene has a consensus rating of "Moderate Buy" and a consensus target price of $81.31.

View Our Latest Stock Report on CNC

Centene Price Performance

Shares of CNC stock traded up $1.42 on Friday, reaching $59.42. 7,063,954 shares of the company were exchanged, compared to its average volume of 4,099,720. Centene has a 1 year low of $55.03 and a 1 year high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The business has a 50-day moving average price of $62.02 and a 200 day moving average price of $68.62. The company has a market cap of $30.00 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 0.78 and a beta of 0.46.

Insider Activity

In other news, CFO Andrew Lynn Asher bought 17,200 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was bought at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. The trade was a 3.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares of the company's stock, valued at approximately $40,567,523.20. This represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Centene

Several large investors have recently added to or reduced their stakes in the business. Park Place Capital Corp raised its position in Centene by 1,190.0% in the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 357 shares in the last quarter. WR Wealth Planners LLC lifted its stake in Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock worth $31,000 after acquiring an additional 137 shares during the last quarter. Chris Bulman Inc purchased a new stake in shares of Centene in the 2nd quarter valued at approximately $33,000. Crewe Advisors LLC raised its holdings in shares of Centene by 174.3% in the 2nd quarter. Crewe Advisors LLC now owns 683 shares of the company's stock valued at $45,000 after purchasing an additional 434 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company's stock worth $58,000 after purchasing an additional 332 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

About Centene

(Get Free Report)

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.

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